BNP Paribas Financial Markets Acquires Shares of 66,784 Cogent Biosciences, Inc. (NASDAQ:COGT)

BNP Paribas Financial Markets purchased a new position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 66,784 shares of the technology company's stock, valued at approximately $521,000. BNP Paribas Financial Markets owned 0.06% of Cogent Biosciences at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. New York State Common Retirement Fund increased its stake in shares of Cogent Biosciences by 10.5% during the fourth quarter. New York State Common Retirement Fund now owns 23,102 shares of the technology company's stock worth $180,000 after acquiring an additional 2,200 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Cogent Biosciences by 11.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 23,422 shares of the technology company's stock worth $183,000 after purchasing an additional 2,371 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Cogent Biosciences by 15.4% during the 4th quarter. Teacher Retirement System of Texas now owns 17,983 shares of the technology company's stock worth $140,000 after buying an additional 2,396 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Cogent Biosciences by 6.3% during the 4th quarter. MetLife Investment Management LLC now owns 56,750 shares of the technology company's stock worth $443,000 after buying an additional 3,382 shares in the last quarter. Finally, NEOS Investment Management LLC lifted its holdings in shares of Cogent Biosciences by 10.9% in the 4th quarter. NEOS Investment Management LLC now owns 51,926 shares of the technology company's stock valued at $405,000 after buying an additional 5,111 shares during the period.

Cogent Biosciences Stock Up 1.2%

Shares of NASDAQ COGT traded up $0.06 during midday trading on Tuesday, hitting $4.88. The stock had a trading volume of 1,584,041 shares, compared to its average volume of 1,264,228. The company has a fifty day moving average price of $5.13 and a 200 day moving average price of $7.22. The company has a market capitalization of $555.62 million, a price-to-earnings ratio of -1.97 and a beta of 1.91. Cogent Biosciences, Inc. has a 1-year low of $3.72 and a 1-year high of $12.61.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last posted its earnings results on Tuesday, May 6th. The technology company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.04. On average, research analysts forecast that Cogent Biosciences, Inc. will post -2.42 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on COGT. HC Wainwright decreased their target price on shares of Cogent Biosciences from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, May 20th. Scotiabank started coverage on shares of Cogent Biosciences in a report on Friday, March 7th. They issued a "sector outperform" rating and a $17.00 target price for the company. Piper Sandler upgraded shares of Cogent Biosciences to a "strong-buy" rating in a research report on Friday, March 7th. Robert W. Baird dropped their price objective on Cogent Biosciences from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Finally, Wedbush reissued a "neutral" rating and set a $11.00 price objective on shares of Cogent Biosciences in a research note on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $14.00.

About Cogent Biosciences

Cogent Biosciences, Inc, a biotechnology company, focuses on developing precision therapies for genetically defined diseases. Its lead product candidate includes bezuclastinib (CGT9486), a selective tyrosine kinase inhibitor designed to target mutations within the KIT receptor tyrosine kinase, including KIT D816V KIT D816V mutation that drives systemic mastocytosis, as well as other mutations in KIT exon 17, which are found in patients with advanced gastrointestinal stromal tumors.